Falling to 61.8% Fibonacci Projection

TitleFalling to 61.8% Fibonacci ProjectionTypeBullish BouncePreference:Price is falling towards the pivot point of 1.34288 which is a swing-low support that aligns with the 61.8% Fibonacci projection level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 1.35460 which is a pullback resistance level.Alternative scenario:If price breaks below the pivot point, it could hit the 1st support at 1.33799 which is a pullback support that aligns with the 78.6% Fibonacci projection level.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.